A new year is a time for reflection, goal-setting and weight loss. Yes, that means all you investors.

For reflection, look at what you’ve been doing right with your investment portfolio. Consider not only what has worked, but why. Then analyze what’s gone wrong.

And if you employ a financial adviser, when was the last time you spoke, and were you satisfied with the conversation? Sometimes, the biggest problem an investor has is a failure to communicate.

As for goals, think about what you need from your investments — not what you want.

Stock investors in 2012 enjoyed a 16% gain just by holding a Standard & Poor’s 500 Index-tracking fund. International stock funds did even better.

But 16% annual gains are unexpected, and atypical — basically it’s two years’ worth of returns in one. So don’t be surprised if 2013 is a decent, but more average year for U.S. stocks. And with bond yields so low, don’t be shocked if high-single digit bond-fund returns drop to low single digits.

We all want the highest returns. But inflation is low, economic growth is slow but improving, and so what we need from our investments — and the risk we take to get it — may be measurably less.

Now for the hardest part: Losing the weight of investing.

Investors carry a lot of excess baggage. For some of us, it seems the weight of the world is stuffed into our stock portfolios. Every downturn sends us over our personal “fiscal cliff”; every surge spurs a swell of pride.

Here’s how to shed this investing weight — and keep it off:

For starters, don’t pay attention to the stock market. Set an allocation range for a diversified group of stocks, bonds and cash, and check your portfolio once every few months at most. If at that time the allocation is out of kilter, trim your winners and add to your losers so that you are buying at low prices and selling the high-priced goods.

Invest a set amount every month, spread across your portfolio according to your allocation. Those with 401(k) and other retirement plans can do this easily; otherwise instruct your broker or financial adviser to handle it.

Keep costs low. Frequent trading is expensive. Many mutual funds are costly too. The more you pay for investment expertise, the less you keep. Consider low-fat alternatives to richly priced investment products. Fees matter, and like your weight, investing costs are within your control.

So this year, be good to your portfolio’s waistline. Go on a trading diet and a mutual-fund fast. And be sure to exercise.

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